SmartStream’s Corona SWIFT E&I software is fully compliant with the SWIFT E&I standards and rulebook. Furthermore, as an out-of-the-box solution it provides banks and corporations with significant efficiency gains.

For existing Corona clients, full integration with their existing investigation and reconciliation functionality, delivers a single solution for payments reconciliation, exception management and investigations with internal and external accounts. This integration enables firms to take advantage of SWIFT E&I without needing to invest in additional hardware or operations/administrations costs.

As a stand alone solution it enables out of the box delivery of SWIFT E&I and Corona Investigations for integration with legacy or payments systems. This ensures firms can quickly benefit from the new standards without further configuration to handle the new XML messages and workflows.

For banks, the solution drives higher STP rates for SWIFT-originated investigations, reducing exception processing costs and increasing their ability to absorb new business without impacting cost or competitiveness. It also improves customer satisfaction through shorter turnaround times for investigations and provides greater visibility into payments processing, a critical risk management tool.

Corporate customers will see their enquiry costs reduce and investigation turn around times shorten. This more timely approach combined with improved reconciliation speed enables greater control of payables and receivables and the opportunity for improved liquidity management. Improved transparency on payment enquiries also supports their move towards centralised accounting and treasury management functions to deliver greater economies of scale.